The Russian Basketball Federation has been suspended by international governing body FIBA, putting their participation in the 2016 Olympics in doubt.

The federation said on July 29 that FIBA disqualified it from competition, citing a lack of "unity and stability" and inability to "resolve long-standing institutional and legal issues."

The suspension, if still in place, will keep them out of the European Championship in September, which doubles as a qualifying competition for the Olympics.

"Russia's participation in the European Championship in the autumn and the 2016 Olympics is under a real threat," honorary federation president Sergei Chernov told TASS.

"We all need to think together how to find a way out of this situation."

Aleksandr Zhukov, the president of the Russian Olympic Committee, told the TASS news agency on July 30 that the Russian Basketball Federation needed to "urgently hold elections" and form a "legitimate management" -- including a new president -- to be recognized by FIBA.

The Russian Basketball Federation has a chance to reverse the suspension at a FIBA meeting in August.

Earlier, Russian Sports Minister Vitaly Mutko vowed to contest the suspension at the Court of Arbitration for Sport in Lausanne, Switzerland.